US helps Vietnam to facilitate trade

Wednesday, 2019-07-10 17:50:40
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Deputy PM Vuong Dinh Hue speaking at the ceremony (Photo: VGP)
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NDO – A ceremony was held in Hanoi on July 10 by the United States Agency for International Development (USAID) and Vietnam’s Ministry of Finance (MoF) to launch the Trade Facilitation Programme.

The event was attended by Politburo member and Deputy Prime Minister Vuong Dinh Hue, the US Ambassador to Vietnam Daniel J. Kritenbrink and USAID/Vietnam Mission Director Michael Greene.

The USAID-funded Trade Facilitation Programme was approved by the Vietnamese Government. Its governing body is the MoF and its manager is the General Department of Vietnam Customs.

Over US$21.7 million will be implemented over the next five years, aiming to support the reform, harmonisation and simplification of policies and procedures for exports and imports in line with international standards.

The project will strengthen the implementation of the World Trade Organisation's Trade Facilitation Agreement of which both Vietnam and the United States are members.

Speaking at the ceremony, Deputy PM Vuong Dinh Hue said that in the current development trend, trade facilitation measures play a very important role and have a positive and direct impact on the countries as well as bring great benefits to the economy, especially the business community.

He affirmed that the programme is a practical, timely and necessary support, meeting the expectation of the Government of Vietnam in the implementation of the World Trade Organisation's Trade Facilitation Agreement and new generations of free trade agreements.

The Deputy PM asked the MoF to closely coordinate with relevant ministries, agencies and localities, the USAID and private economic sector, in order to improve the efficiency of the programme, ensuring the overall goals approved by the PM.

For his part, the US Ambassador Daniel J.Kritenbrink noted that the US Government will work with Vietnam to implement the trade facilitation project, especially towards the harmonisation and simplification of specialised inspections.